Shares of Jaiprakash Associates rallied 20 per cent, hitting 52-week high, on the Bombay stock Exchange after the company swung into profit in the June quarter with net profit of Rs 764.99 crore on account of higher income and lower expenses.
Boosted by Q1, shares of the company gained as much as 19.99 per cent to hit 52-week high of Rs 30.40 apiece on the Bombay Stock Exchange.
The stocks were currently trading at Rs 28.45 against previous close price of Rs 25.35.
In a similar fashion, shares of the company were trading 12.23 per cent higher at Rs 28.45 apiece on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 32,332.28, up 6.87 points, or 0.02 per cent, at 12:20 hours.